SHANGHAI, Jul. 24 (SMM) – LME lead started Thursday evening session at USD 1,767/mt and moved between USD 1,765-1,775/mt during Asian trading hours. During European trading hours, LME lead fell again after touching USD 1,785/mt. Though major reports were lacked, commodities still suffered sell-off pressures. LME lead ended at session’s low of USD 1,731/mt, falling USD 38/mt. Trading volumes grew 1,098 to 3,912 lots but positions fell 1,246 to 128,392. LME lead stocks saw a decline of 875 mt to 213,575 mt.
SHFE 1510 lead started at RMB 12,735/mt during Thursday evening session and followed LME lead down after reaching RMB 12,800/m, to close at a low of RMB 12,615/mt, down RMB 120/mt. Trading volumes were only 506 lots.
LME lead may move in a range of USD 1,710-1,750/mt today. SHFE 1510 lead is expected to hover between RMB 12,530-12,680/mt and RMB 13,000-13,150/mt for spot lead.